Connecticut-based Altus Power has acquired a 9.9-megawatt ground-mounted solar generation project in Sussex County, N.J.
The solar project has been operational since 2015 and delivers power to local utilities. Altus Power said the acquisition is part of the company’s strategic growth approach, which includes both greenfield project development and acquisition of operating assets.
The acquisition adds to the company's expanding portfolio of operating projects across New Jersey and the United States. Following this transaction, Altus Power now operates more than 350 megawatts of solar energy projects.
In July, Altus Power, a Blackstone-backed clean-electrification company, announced that it would go public on the New York Stock Exchange via a business combination with CBRE Acquisition Holdings.
